US doughnut maker Tim Hortons, a subsidiary of fastfood company Wendy’s International, has said it has tentatively won a bid for certain real and personal property assets of Bess Eaton Donut Flour and Louis A. Gencarelli, Sr.
The assets are related to 42 Bess Eaton coffee and doughnut restaurants throughout Rhode Island, Connecticut and Massachusetts. There is an automatic ten-day appeal period before closing can commence, the company said. The purchase price for the restaurants and other assets is US$41.6m.
“This acquisition provides Tim Hortons with an excellent opportunity to continue growing our business in the United States,” said Paul House, president and chief operating officer of Tim Hortons.
“We will wait until the end of the ten-day appeal period before discussing our specific plans, but we are excited that we may soon be able to start introducing the Tim Hortons Always Fresh concept to additional states in New England,” House added.
Tim Hortons has 184 restaurants in the US and 2,358 restaurants in Canada.